Old National buys Charter One branches

November 25, 2008

Evansville-based Old National Bancorp has signed an agreement to buy the 65 Indiana branch offices of Charter One, according to a filing with the Securities and Exchange Commission.

Charter One is owned by Citizens Financial Group of Providence, R.I.; Citizens is owned by Royal Bank of Scotland Group Plc.

The deal includes $397 million of deposits and $15.9 million in loans.

Charter One has five locations in the Indianapolis area.

The purchase price will be determined when the deal closes.

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